Home › Forums › Financial Markets/Economics › GLD ETF full of fake gold?
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cyphire.
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November 24, 2009 at 4:22 PM #487088November 24, 2009 at 4:36 PM #486247
Nor-LA-SD-guy
ParticipantI think this is why maybe they made it illegal to own gold at one point in the thirties, and then they fixed the price,
I could see some panic if this ends up being true where everyone would suddenly only trust real gold they could hold in their hands. Just not possible, this again is why Gold will never and can never be the world currency base, just not even close to a 10th enough of the stuff.
It will go back to being just for ring’s, jewelry and stuff soon enough.
November 24, 2009 at 4:36 PM #486415ParticipantI think this is why maybe they made it illegal to own gold at one point in the thirties, and then they fixed the price,
I could see some panic if this ends up being true where everyone would suddenly only trust real gold they could hold in their hands. Just not possible, this again is why Gold will never and can never be the world currency base, just not even close to a 10th enough of the stuff.
It will go back to being just for ring’s, jewelry and stuff soon enough.
November 24, 2009 at 4:36 PM #486789ParticipantI think this is why maybe they made it illegal to own gold at one point in the thirties, and then they fixed the price,
I could see some panic if this ends up being true where everyone would suddenly only trust real gold they could hold in their hands. Just not possible, this again is why Gold will never and can never be the world currency base, just not even close to a 10th enough of the stuff.
It will go back to being just for ring’s, jewelry and stuff soon enough.
November 24, 2009 at 4:36 PM #486876ParticipantI think this is why maybe they made it illegal to own gold at one point in the thirties, and then they fixed the price,
I could see some panic if this ends up being true where everyone would suddenly only trust real gold they could hold in their hands. Just not possible, this again is why Gold will never and can never be the world currency base, just not even close to a 10th enough of the stuff.
It will go back to being just for ring’s, jewelry and stuff soon enough.
November 24, 2009 at 4:36 PM #487108ParticipantI think this is why maybe they made it illegal to own gold at one point in the thirties, and then they fixed the price,
I could see some panic if this ends up being true where everyone would suddenly only trust real gold they could hold in their hands. Just not possible, this again is why Gold will never and can never be the world currency base, just not even close to a 10th enough of the stuff.
It will go back to being just for ring’s, jewelry and stuff soon enough.
November 24, 2009 at 5:48 PM #486312Hatfield
ParticipantNo, gold ownership was made illegal in the 30s for a very specific reason: the dollar was pegged to gold, and there was a run on US gold reserves by foreign noteholders demanding redemption. Shortly after gold ownership was outlawed the dollar was devalued something like 30%.
Now that the dollar is not pegged to gold, it floats freely against it, so I don’t know why private gold ownership would be outlawed again.
November 24, 2009 at 5:48 PM #486478ParticipantNo, gold ownership was made illegal in the 30s for a very specific reason: the dollar was pegged to gold, and there was a run on US gold reserves by foreign noteholders demanding redemption. Shortly after gold ownership was outlawed the dollar was devalued something like 30%.
Now that the dollar is not pegged to gold, it floats freely against it, so I don’t know why private gold ownership would be outlawed again.
November 24, 2009 at 5:48 PM #486854ParticipantNo, gold ownership was made illegal in the 30s for a very specific reason: the dollar was pegged to gold, and there was a run on US gold reserves by foreign noteholders demanding redemption. Shortly after gold ownership was outlawed the dollar was devalued something like 30%.
Now that the dollar is not pegged to gold, it floats freely against it, so I don’t know why private gold ownership would be outlawed again.
November 24, 2009 at 5:48 PM #486941ParticipantNo, gold ownership was made illegal in the 30s for a very specific reason: the dollar was pegged to gold, and there was a run on US gold reserves by foreign noteholders demanding redemption. Shortly after gold ownership was outlawed the dollar was devalued something like 30%.
Now that the dollar is not pegged to gold, it floats freely against it, so I don’t know why private gold ownership would be outlawed again.
November 24, 2009 at 5:48 PM #487173ParticipantNo, gold ownership was made illegal in the 30s for a very specific reason: the dollar was pegged to gold, and there was a run on US gold reserves by foreign noteholders demanding redemption. Shortly after gold ownership was outlawed the dollar was devalued something like 30%.
Now that the dollar is not pegged to gold, it floats freely against it, so I don’t know why private gold ownership would be outlawed again.
November 24, 2009 at 5:58 PM #486317ParticipantYea OK but at the same time I can’t ever see it being the base for any serious world currency, and eventually it will just be a somewhat expensive novelty
November 24, 2009 at 5:58 PM #486483ParticipantYea OK but at the same time I can’t ever see it being the base for any serious world currency, and eventually it will just be a somewhat expensive novelty
November 24, 2009 at 5:58 PM #486859ParticipantYea OK but at the same time I can’t ever see it being the base for any serious world currency, and eventually it will just be a somewhat expensive novelty
November 24, 2009 at 5:58 PM #486946ParticipantYea OK but at the same time I can’t ever see it being the base for any serious world currency, and eventually it will just be a somewhat expensive novelty
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